Reported Earlier, Skyward Specialty Insurance Prices 4.4M Share Secondary Offering By The Westaim Corporation At $36.50/Share
Portfolio Pulse from Benzinga Newsdesk
Skyward Specialty Insurance (SKWD) has announced a secondary offering of 4.4 million shares priced at $36.50 per share by The Westaim Corporation. Skyward Specialty will not benefit financially from this offering as all proceeds go to The Westaim Corporation, who will also cover the underwriting discounts and commissions.
May 07, 2024 | 8:04 am
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Skyward Specialty Insurance's secondary offering could potentially dilute current shareholders' value but won't financially benefit the company as it receives no proceeds.
Secondary offerings often lead to dilution of existing shares, potentially causing a short-term negative impact on the stock price. Since Skyward Specialty is not receiving any proceeds, there's no direct financial benefit to offset this potential dilution.
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